Bears are moving in and eye a break of structure
AUD/USD bulls are in charge at the start of the week but bears are lurking. The US Dollar bulls need to show up to enable the Aussie is going to break the downside structure. As per the start of the week’s analysis, AUD/USD Price Analysis: Bulls eye 0.7020, bears target a break of H1 structure, […]
Next on the upside comes the 143.00 region
EUR/JPY climbs further and retakes the 142.00 mark. Further gains could see the resistance area around 143.00 revisited. EUR/JPY adds to Friday’s strong bounce and leaves behind the key 142.00 hurdle at the beginning of the week. A sustainable breakout of the 200-day SMA, today at 140.76, should shift the outlook to a more constructive […]
Recovery remains elusive below 1.3520
USD/CAD picks up bids to reverse intraday losses, probes two-day downtrend. Multiple moving averages stand tall to challenge recovery moves. MACD, RSI conditions suggest further weakness but 10-week-old support line restricts immediate downside. USD/CAD licks its wounds during a sluggish Monday morning as the pre-Fed blackout joins the Lunar New Year holidays in China. Even […]
XAU/USD bulls move in ahead of key events and pending Federal Reserve
Gold price runs higher within the consolidation and towards recent bull cycle highs. Gold price will now depend on key United States economic events ahead. The Federal Reserve is looming and all will be revealed at the start of February. Gold price has been a touch higher at the start of the week, digging into […]
GBPUSD picks up bids to refresh intraday high
GBP/USD Price Analysis: Bulls approach 1.2435 hurdle amid five-day uptrend GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week uptrend. That said, the Cable pair renews its intraday high near 1.2410 while rising for the fifth consecutive day as of late. In doing […]
Bulls approach 1.2435 hurdle amid five-day uptrend
GBP/USD picks up bids to refresh intraday high; extends previous two-week winning streak. RSI conditions, six-week-old resistance line challenge Cable buyers. 21-SMA, ascending trend line from early January puts a floor under the price. GBP/USD stays on the front foot as bulls keep the driver’s seat during early Monday morning in Asia, after a two-week […]
Heads Up: Bulls Get Benefit of the Doubt as Positive Breadth Divergence Emerges | Top Advisors Corner
After the fall in stocks on 1/19/23, someone asked me if I was still bullish. And my answer was: “as long as the New York Stock Exchange Advance Decline line (NYAD) remains above its 200-day moving average, the bulls get the benefit of the doubt.” On 1/20/23, the market moved decidedly higher, regaining much of what it […]
The S&P 500 Showing More Bullish Signals, Watch This Key Level | Trading Places with Tom Bowley
Say what you want, but January has proven to be a very reliable predictor of U.S. stock market action from February through December since 1950 and, with just a little more than a week left to go in January 2023, market action is suggesting that we’re going to have a very strong year. It’s just […]
Friday’s 20% Gain Has This Stock’s Short Sellers Running For The Exits | Don’t Ignore This Chart!
We keep a Short Squeeze ChartList (SSCL) at EarningsBeats.com and there are currently 42 stocks on it that have very high percentages in terms of short percentage of float. What these stocks have in common is a propensity for short sellers to panic and cover their short positions as price action moves higher and higher. […]
GOOG jumps on layoffs affecting 6% of search giant’s workforce
Alphabet will lay off about 12,000 employees. GOOG stock has benefited from the news on Friday. Alphabet will focus on AI technolgy. $102 is the next price target for GOOG bulls. Alphabet (GOOG) stock advanced 3.7% to $97.40 on Friday after the paid search and online advertising behemoth announced 12,000 job cuts. Recent data suggests Alphabet, […]